Just a few weeks since DraftKings announced it was pulling out of daily fantasy sports (DFS) markets in four European countries, the operator has confirmed it plans to layoff around 140 employees. The operator shut up shop in Malta, Ireland, Germany, and Austria last month, and now it plans to layoff workers in Europe, Asia, and the Middle East.
a low single-digit percentage of the company’s workforce”
According to Sportico, the amount of roles eliminated represent “a low single-digit percentage of the company’s workforce,” primarily in the fields of engineering and human resources. DraftKings said the decision results from a new focus on operational efficiencies and a reorganization of some teams.
DraftKings stock rose almost 10% on Wednesday to close at $16.48. The share hike is likely welcome news for the embattled firm that closed 2022 with the biggest share price loss among competitors such as FanDuel and BetMGM. Adding its woes in 2022, DraftKings suffered a $300,000 hacking breach head and had to pay a $150,000 fine in Ohio.